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HY Industries Ltd plans to replace a warehouse in nine years at an anticipated cost of $60,000. To pay for the replacement, a sinking hund
HY Industries Ltd plans to replace a warehouse in nine years at an anticipated cost of $60,000. To pay for the replacement, a sinking hund has been established into which equal payments are made at the end of every quarter. Interest is 55% quarterly (a) What is the size of the periodic payment? (b) What is the accumulated balance just after the 28th payment? (a) The periodic payment is s (Round the final answer to the nearest cent as needed Round all intermediate values to six decimal places as needed) (b) The balance after the 28th payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed)
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